Israel already had peace deals with Egypt and Jordan. They just recently reached normalization agreements with UAE and Bahrain.
Saudi Arabia's current King Salman is against normalization but reports are that Crown Prince Mohammed bin Salman would be in favor of normalization.
These developments reshape the geopolitics and economics of the region.
In 2019, the ISPSW Strategy Series: Focus on Defense and International Security wrote The New Bloc: "The Middle Eastern Entente". This think tank paper indicated that Iran, Turkey and Qatar were trying to form an alliance. It was written by Yossef Bodansky. The Institute for Strategic, Political, Security and Economic Consultancy (ISPSW) is a private institute for research and consultancy.
Nextbigfuture does not believe that Turkey will ally with Iran.
Turkey normalized relations with Israel in 2016 and has had relations with Saudi Arabia. Turkey is a member of NATO, but has been erratic. Turkey wants to do its own thing and tries to be the dominant regional power.
Saudi Arabia, Iran, Turkey, Egypt and Israel are the major powers in the region.